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and you know, there are some taxes that would go up if we two off the fiscal cliff. you're talking about a family that makes about $50,000 having a tax increase of $4,000. melissa: congresswoman, this drives me crazy. when we look at all the numbers we immediately start taing about taxes. it seems like we're looking for revenue under every single rock. that's fine. even if we raised taxes that are proposed by the white house, it will raise $82 billion. it is one half of 1% of the problem. have a $16.3 trillion debt. all of this talk about raising taxes doesn't get us even close to solving the problem. it doesn't even start the conversation. it is not a drop in the bucket. we've got to reform our spending or grow the economy. but just raising taxes isn't going to do it. >> well, i agree with you 100%. that's why the president as well as the democrats have called for a balanced approach. so of course we can't raise enough taxes to completely deal witthe deficit. and you do have to do reforms. you need to reform the tax system. you certainly need to make additional cuts
and you know, there are some taxes that would go up if we two off the fiscal cliff. you're talking about a family that makes about $50,000 having a tax increase of $4,000. melissa: congresswoman, this drives me crazy. when we look at all the numbers we immediately start taing about taxes. it seems like we're looking for revenue under every single rock. that's fine. even if we raised taxes that are proposed by the white house, it will raise $82 billion. it is one half of 1% of the problem. have...
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Nov 26, 2012
11/12
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cliff? have a good night. here you go. you, too. i'm going to dream about that steak. i'm going to dream about that tiramisu. what a night, huh? but, um, can the test drive be over now? head back to the dealership? [ male announcer ] it's practically yours. but we still need your signature. volkswagen sign then drive is back. and it's never been easier to get a passat. that's the power of german engineering. get $0 down, $0 due at signing, $0 deposit, and $0 first month's payment on any new volkswagen. visit vwdealer.com today. on any new volkswagen. when you lost the thing you can't believe you lost.. when what you just bought, just broke. or when you have a little trouble a long way from home... as an american express cardmember you can expect some help. but what you might not expect, is you can get all this with a prepaid card. spends like cash. feels like membership. >>> there is a safety on this so no lasting damage will be done. there you go. this is going to be good. >> if only washin
cliff? have a good night. here you go. you, too. i'm going to dream about that steak. i'm going to dream about that tiramisu. what a night, huh? but, um, can the test drive be over now? head back to the dealership? [ male announcer ] it's practically yours. but we still need your signature. volkswagen sign then drive is back. and it's never been easier to get a passat. that's the power of german engineering. get $0 down, $0 due at signing, $0 deposit, and $0 first month's payment on any new...
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Nov 30, 2012
11/12
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CURRENT
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and, of course, we know that once they go over the fiscal cliff and those that -- that cap cal gains rate goes back to the clinton era it will be a 20% rate anyway. one way or another it's going to up. that's all i am saying. nancy took cook, thank you so much from the national journal thank you for join is us inside the war room. coming up, the car room is is not in the prediction business but we hear there is good money in it. so we are going to jump in. our best guess on how this negotiation will play out right after the break. plus what would thomas jefferson do with the fiscal cliff? funny you should and s author john meechum's new biography on the founder father sheds new light on the man and his method and he, john meechum will join us in the war room. and later mitt romney finally got into the white house don't worry, though it was just for a bowl of chili. ititititititititititititititititititititititititititit before the sneeze, help protect with a spray. before the tissue, help defend with a wipe. before the cold & flu season help prevent with lysol. because when you have 1
and, of course, we know that once they go over the fiscal cliff and those that -- that cap cal gains rate goes back to the clinton era it will be a 20% rate anyway. one way or another it's going to up. that's all i am saying. nancy took cook, thank you so much from the national journal thank you for join is us inside the war room. coming up, the car room is is not in the prediction business but we hear there is good money in it. so we are going to jump in. our best guess on how this negotiation...
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Dec 6, 2012
12/12
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CNBC
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fiscal cliff deal. he joins us exclusively later on "the closing bell." stay tuned. [ male announcer ] this december, remember -- ♪ you can stay in and like something... ♪ [ car alarm deactivates ] ♪ ...or you can get out there with your family and actually like something. ♪ the lexus december to remember sales event is on, offering some of our best values of the year. this is the pursuit of perfection. you won't just find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts with a real person. [ rodger ] at scottrade, seven dollar trades are just the start. our support teams are nearby, ready to help. it's no wonder so many investors are saying... i'm with scottrade. >>> one of the most bizarre man hunts in recent memory is coming to an end in central america, we think. wealth editor robert frank has the latest details on the arrest of john mcafee. >> ye
fiscal cliff deal. he joins us exclusively later on "the closing bell." stay tuned. [ male announcer ] this december, remember -- ♪ you can stay in and like something... ♪ [ car alarm deactivates ] ♪ ...or you can get out there with your family and actually like something. ♪ the lexus december to remember sales event is on, offering some of our best values of the year. this is the pursuit of perfection. you won't just find us online, you'll also find us in person, with...
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Nov 12, 2012
11/12
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CNBC
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how are you invested right now amidst all of these issues pertaining to the fiscal cliff, higher tax rates in 2013, et cetera? >> always good to be back with you. we've been defensive. we've looked for opportunities to take gains over the course of the year. thankfully we've been very u.s.-centric in our investments over the course of 2011-2012. what we're preparing for now is looking again at the foreign markets in 2013. >> foreign markets meaning you want to be allocating money outside of the u.s. because of these issues in the u.s.? >> well, taking a look at some of the large global players here in the u.s. and outside, because as tax rates go up here in the united states, what we're about to see is probably the laugher curve in reverse. tax rates going up, revenues declining, creating a headwind for gdp. we're look at companies in the world for looking for global growth opportunity outside our borders. >> mark, let me get your standpoint on this. all year all we've been hearing about are dividend payers. why? because the yield -- there's no yield anywhere with rates where they ar
how are you invested right now amidst all of these issues pertaining to the fiscal cliff, higher tax rates in 2013, et cetera? >> always good to be back with you. we've been defensive. we've looked for opportunities to take gains over the course of the year. thankfully we've been very u.s.-centric in our investments over the course of 2011-2012. what we're preparing for now is looking again at the foreign markets in 2013. >> foreign markets meaning you want to be allocating money...
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Dec 20, 2012
12/12
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FOXNEWSW
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a survey showed a third of the public is so concerned about the fiscal cliff and what our tax rates will be we have cut back on spending altogether. and the estimate for holiday sales is revised from 3.3 percent to 2.5 percent because of the fiscal cliff and super storm sandy and deep discounts. those deep discounts can continue on saturday, super saturday, the biggest shopping days of the year, a couple daze before christmas this year, so if you go in the store and you are look if 70 percent off sale you will find it. i am not sure your item will be in stop but you will like the price tag. happy shopping if you are not done already. i am. i am wrapped and i have the bows. >>neil: i knew you would rub that in. but processed meats and cheeses are everyone's favorite gift. tomorrow is my crist shopping tips if everyone. many americans country on tax refunded to pay if the holiday shipping bills they are stacking up but what if the refunds are delayed, seriously delayed? this wanting from the i.r.s., and i quote, "most taxpayers may not be able to file 1212 taxpayer returns until late in ma
a survey showed a third of the public is so concerned about the fiscal cliff and what our tax rates will be we have cut back on spending altogether. and the estimate for holiday sales is revised from 3.3 percent to 2.5 percent because of the fiscal cliff and super storm sandy and deep discounts. those deep discounts can continue on saturday, super saturday, the biggest shopping days of the year, a couple daze before christmas this year, so if you go in the store and you are look if 70 percent...
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Nov 29, 2012
11/12
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KPIX
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. >>> secretary geithner is up on capitol hill to lead negotiations on the fiscal cliff talks. >> you're not going to grow the economy if you raise taxes on the top two rates. that's not the right approach. >>> string of nasty storms barreling into the west coast. powerful winds have started knocking out power. >> just need to get to the other side of town. i don't have a choice. >> picked a bad day to do it? >> yeah. >> u.s. embassy in cairo is closed. the entrance is blocked by protesters as clashes erupt nearby. >> zebra and s hechlt tland pony ran wild through the streets of new york city. they apparently escaped from a petting zoo. >>> nypd says actress lindsay lohan has been raefed and charged with assault. >> three, two, one. >> only nbc would make a television event out of plugging something in. >> all that -- >> oh, humphries and rondo get into it. officials trying to get control here. >> don't tell me what i think. when i said i didn't have a problem, i don't have a problem. got it? >> and all that matters. >> president obama plans to play host to his old political rival, mitt
. >>> secretary geithner is up on capitol hill to lead negotiations on the fiscal cliff talks. >> you're not going to grow the economy if you raise taxes on the top two rates. that's not the right approach. >>> string of nasty storms barreling into the west coast. powerful winds have started knocking out power. >> just need to get to the other side of town. i don't have a choice. >> picked a bad day to do it? >> yeah. >> u.s. embassy in cairo is...
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Dec 31, 2012
12/12
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WGN
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if you want to check out how much this fiscal cliff falloff will affect your next pay check, had to this web site. half a bill to legalize same sex marriage in illinois could come before state lawmakers in springfield as soon as this week. a white house spokesman tells the chicago sun-times, president obama is urging lawmakers to approve the "religious freedom and marriage fairness act". the spokesman says if the president were still in the legislature, he would support a measure to treat all couples equally. illinois passed a law approving civil unions for same sex couples in june of last year. if you're going out to celebrate tonight. the c-t-a is offering you a safe ride home for a penny. this year, the c-t-a is partnering with "miller lite" to provide rides on buses and trains for just one cent. penny fares begin at 10 p-m tonight. continuing through four a-m on new year's day. >> they are erupting with tons of exploding fireworks as they welcomed in the new year. it was the world's first major celebration for 2013. 7 t of fireworks were set off from rooftops and barges. many of them
if you want to check out how much this fiscal cliff falloff will affect your next pay check, had to this web site. half a bill to legalize same sex marriage in illinois could come before state lawmakers in springfield as soon as this week. a white house spokesman tells the chicago sun-times, president obama is urging lawmakers to approve the "religious freedom and marriage fairness act". the spokesman says if the president were still in the legislature, he would support a measure to...
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Dec 19, 2012
12/12
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. >>> president obama's approval rating reached 57% in a cbs poll focusing on the fiscal cliff talks. >>> former republican senator chuck hagel is a top candidate to become the new defense secretary in the second obama administration, but there's some opposition questioning hagel's support for israel. >>> and ben affleck is reportedly on the list of possible successors if senator john kerry is nominated as secretary of state. affleck will be in washington today testifying before the house armed services committee about the security situation in congo is that's your morning dish of scrambled politics. >>> the dow saw its first back-to-back triple digit gains in five months tuesday. that was amid optimism that a deal will be reached on the fiscal cliff. today investors will be watching for fresh housing data and earnings from economic and holiday bellwether fedex. >>> this morning, swiss banking giant ubs announced it will pay a record $1.5 billion fine over its role in a global interest rate fixing scheme. >>> in the wake of the newtown massacre, cerberus is selling its majority stake
. >>> president obama's approval rating reached 57% in a cbs poll focusing on the fiscal cliff talks. >>> former republican senator chuck hagel is a top candidate to become the new defense secretary in the second obama administration, but there's some opposition questioning hagel's support for israel. >>> and ben affleck is reportedly on the list of possible successors if senator john kerry is nominated as secretary of state. affleck will be in washington today...
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Dec 30, 2012
12/12
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what happens if we go over the fiscal cliff or get the type of deal the president is looking for? what we're talking about the top individual income-tax rate rising from 35% to 39.6%, the same tax rate we have before 2001. we do not need to be up at the 75% level. i would not advocate the go there but i think that is not really where we are and it is not where we need to be. host: we have a treat, who -- we have a tweet. they write -- host: the payroll tax is to% of income. -- guest: the payroll tax is 2% of income. the benefits of the payroll tax are larger or more important probably for low and middle income working families than they are for higher income families. that is certainly true. you have to remember that the payroll tax was a temporary provision. it actually was enacted at the end of 2010 to replace another temporary provision which was even more targeted toward low and middle income working families. i do not think anybody would dispute that at some point it needs to expire. the question is whether that time is now or whether it to go on a little bit longer. >> his r
what happens if we go over the fiscal cliff or get the type of deal the president is looking for? what we're talking about the top individual income-tax rate rising from 35% to 39.6%, the same tax rate we have before 2001. we do not need to be up at the 75% level. i would not advocate the go there but i think that is not really where we are and it is not where we need to be. host: we have a treat, who -- we have a tweet. they write -- host: the payroll tax is to% of income. -- guest: the...
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Aug 23, 2012
08/12
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that fiscal cliff is over. so they can say everything they want. but i think people will know who's been obstructing. >> well, will the republicans do the right thing and act on these tax cuts and spending cuts? or are they going to hang the economy out there and blame it on the democrats? >> oh, i think that it seems to me they want to put everything off until after the election. and we actually in the senate, we were able to do something i think that was very smart with harry reid's leadership. we were able to get them to stand down from the filibuster and we passed that tax cut. everybody gets it up to $250,000. after that, clinton tax cuts kick in for those over $250,000. we passed that with a majority vote, and they're sitting on it and won't do it. >> but the cbo report paints a very tough picture in january of 2013. and this is going to be an argument that the democrats are going to have to win with the public, is it not? this squarely puts the focus back on winning the argument. how do the democrats win that argument? >> as i said, number o
that fiscal cliff is over. so they can say everything they want. but i think people will know who's been obstructing. >> well, will the republicans do the right thing and act on these tax cuts and spending cuts? or are they going to hang the economy out there and blame it on the democrats? >> oh, i think that it seems to me they want to put everything off until after the election. and we actually in the senate, we were able to do something i think that was very smart with harry...
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Nov 30, 2012
11/12
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the biggest issue that's causing the fiscal cliff is the tax rates going up on the middle class. especially in this time now when we're getting out of this recession. we're seeing some robust growth. we want the christmas sales to be good. if the middle class knew that they're going to keep their tax cut, it would put a smile on everybody's face. and both parties can take credit for it. why won't they do it? there's only one answer. they're obsessed with protecting billionaires and millionaires. it's a sad state of affairs. >> one thing that we've seen in the days leading up, at least through this week, that there has been optimism from both sides expressed by speaker boehner, also by the president, and also republican tom cole, congre congressman, seem to be on board. now we have conservatives like charles krauthammer putting out their pieces saying let's go over the fiscal cliff, let the president do this. then john cornyn, republican from texas, saying apparently the president wants us to go over the fiscal cliff. this is serious business, demanding higher taxes, more stimulus
the biggest issue that's causing the fiscal cliff is the tax rates going up on the middle class. especially in this time now when we're getting out of this recession. we're seeing some robust growth. we want the christmas sales to be good. if the middle class knew that they're going to keep their tax cut, it would put a smile on everybody's face. and both parties can take credit for it. why won't they do it? there's only one answer. they're obsessed with protecting billionaires and...
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Aug 22, 2012
08/12
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FOXNEWS
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cliff, where we will see likely the bush tax rates expiring at the end of the year, the automatic budget cuts coming in, and the so-called sequestration. and the head of the c.b.o. said we could be headed if a major economic calamity. take a listen. >> if allowed to occur, the sharp reductions in taxes and, rather, reduction in spending, and that will lead to a trimming of the deficit of $500 billion, a significant tightening you have policy and lead, possibly, to a recession next year. >>reporter: a recession, not something the white house wants to hear. here is the really bad news f they got a deal and have a deficit deal in the next few months, the head of the c.b.o. said the economy would get stronger and there would not be a recession but the fiscal crisis would still be looming because the deficit would keep going up. so, under either scenario there are real problems. >>shepard: we learned vice president biden could be in tampa when the republicans are in tampa for the convention and now it is looking like he is getting under their skin. >>reporter: he is campaigning in detroit, sp
cliff, where we will see likely the bush tax rates expiring at the end of the year, the automatic budget cuts coming in, and the so-called sequestration. and the head of the c.b.o. said we could be headed if a major economic calamity. take a listen. >> if allowed to occur, the sharp reductions in taxes and, rather, reduction in spending, and that will lead to a trimming of the deficit of $500 billion, a significant tightening you have policy and lead, possibly, to a recession next year....
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Dec 11, 2012
12/12
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. >> woodruff: now, back to the battle over the fiscal cliff. much of the debate has centered on the question of whether to raise tax rates on high income earners. but many experts are also raising questions as to whether major tax deductions should be limited or even eliminated entirely. the newshour's economics correspondent paul solman was in washington recently to examine the possible impact of such a change. it's part of his ongoing reporting, "making sense of financial news." reporter: at saint martin's catholic church last thursday, they queued up early for clothing and food. the church, like any nonprofit, relies on charitable donations. but limiting or even charitable deductions could be part of a deal to avoid the fiscal cliff. one man of the tax policy center says given our national debt? sort of tax hikes are inevitable. >> one way is to tax the same income we have right now but get more revenue. the alternative is to tax more. get rid of the deductions and the exemptions, the things that reduce or taxable income. we tax more at toda
. >> woodruff: now, back to the battle over the fiscal cliff. much of the debate has centered on the question of whether to raise tax rates on high income earners. but many experts are also raising questions as to whether major tax deductions should be limited or even eliminated entirely. the newshour's economics correspondent paul solman was in washington recently to examine the possible impact of such a change. it's part of his ongoing reporting, "making sense of financial...
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Oct 22, 2012
10/12
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also that fiscal cliff is looming. how will it impact jobs? lori russman from fox business network has more on these topics for us. >> the unemployment rate did drop especially in some of the key swing states. political analyst pointed out the president is not using these numbers and he also says it's probably smart he is not if he draws attention to unemployment it will show that it is really high. >> nothing to brag about it is where it is when he took office but this is a devastating high national average for unemployment. 7.8 percent. to your count about the key swing states they saw improvement from those unemployment numbers. it is still devastatingly high. one who had improve is ohio dropping from 7.wi8 to 7 percen. compared to history where full employment is 4 and a half, 5 percent we are way off that mark. we are creating far too few jobs to approach that full employment picture any time soon. >> the fiscal cliff is looming. briefly explain what is going to happen unless congress acts? >> come the new year it amounts to a battery of
also that fiscal cliff is looming. how will it impact jobs? lori russman from fox business network has more on these topics for us. >> the unemployment rate did drop especially in some of the key swing states. political analyst pointed out the president is not using these numbers and he also says it's probably smart he is not if he draws attention to unemployment it will show that it is really high. >> nothing to brag about it is where it is when he took office but this is a...
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Dec 3, 2012
12/12
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CSPAN
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if we go off the fiscal cliff and congress doesn't take any action to soften the blow, tax rates will go up quite a lot on dividends, from 15% to more than 40% in most circumstances. there are economists who think that will have a big impact on stock markets and they could go down 10%, maybe 20%. i do not think those effects are as strong as some economists believe. i think it is something the market could get over. you're in a long term tax and vanished savings situation. i think you are basically going to be fine unless you're planning on retiring release soon. i do think that is something you have to keep in mind. diversification out of the assets that are most affected by these kinds of taxes is probably never a bad idea. host: john mckinnon is a reporter for "the wall street journal." he is now in the washington bureau. he was a columnist for "the miami herald." what sectors would be hit harder if deductions and loopholes or taken out of the tax code? guest: the stocks that pay a high dividend. these tend to be utility stocks. there are lots of old, established, u.s. industrial f
if we go off the fiscal cliff and congress doesn't take any action to soften the blow, tax rates will go up quite a lot on dividends, from 15% to more than 40% in most circumstances. there are economists who think that will have a big impact on stock markets and they could go down 10%, maybe 20%. i do not think those effects are as strong as some economists believe. i think it is something the market could get over. you're in a long term tax and vanished savings situation. i think you are...
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Oct 18, 2012
10/12
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CNNW
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there are more concerns tonight about the fiscal cliff at the end of the year along with the tax hikes that go into effect in january. told jm morgan economist said cliff-related fiscal issues could take a full percentage point away from economic growth next year. >>> now our fourth story "outfront." we have breaking political news. we're reporting that mitt romney's staff is starting to pull out of the state of north carolina. you say why? because they're failing? apparently the campaign is so confident of a win there, they're shifting resources to battleground ohio instead. the latest polls appear to back them up on that, showing romney in the lead before the first game-changing debate. the numbers got better since then. here's the current cnn electoral map. this assumes that nine states are toss-ups, one is the state of north carolina. if mitt romney wins there, he's 15 electoral votes closer to election. if you add in florida, colorado and virginia, he's still not at 270, which is the number required to win. now, if he can pick up ohio in addition to those, he'll be the next presid
there are more concerns tonight about the fiscal cliff at the end of the year along with the tax hikes that go into effect in january. told jm morgan economist said cliff-related fiscal issues could take a full percentage point away from economic growth next year. >>> now our fourth story "outfront." we have breaking political news. we're reporting that mitt romney's staff is starting to pull out of the state of north carolina. you say why? because they're failing? apparently...
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the whole fiscal cliff is forcing them to do something. but you nailed it on the specifics. it is tax rates. the president has said that tax rates will go up for the wealthy. republicans won't bend on that. yesterday, john boehner said, we are at a stalemate. yes, this is posturing. yes, this is washington. we have four weeks to go. we're going to have ups and downs. >> ups and downs in the stock market, as well. david, thanks. have a great weekend. >> reporter: you, too. >>> now, to the star college basketball players accused of abusing their position as big men on campus. they're now facing burglary charges for allegedly stealing thousands of dollars of stuff from their fellow students. and abc's john muller is covering the story. john? >> reporter: good morning, dan. hofstra students say iphones, computers and even cash has been disappearing from their dormrooms all semester. one victim used an app to track down her stolen ipad. when the investigation unfolded, the staggering news. now, four players from the division-i basketball team are under arrest. faces, covered in s
the whole fiscal cliff is forcing them to do something. but you nailed it on the specifics. it is tax rates. the president has said that tax rates will go up for the wealthy. republicans won't bend on that. yesterday, john boehner said, we are at a stalemate. yes, this is posturing. yes, this is washington. we have four weeks to go. we're going to have ups and downs. >> ups and downs in the stock market, as well. david, thanks. have a great weekend. >> reporter: you, too....
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Nov 7, 2012
11/12
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it starts right now, because the fiscal cliff is out there, the tax rates, the automatic reductions to defense spending, all of those things are all there. and he's got to get to work on it right away. megyn: just so our viewers know, those will happen unless there's some sort of intervention, and they've tried to stop it from happening before, and unsuccessful, they were unsuccessful in their efforts to make a deal. so now they have to do it before the end of the year if they're going to do it at all. everybody says it's going to be very bad for the economy if they don't, and you say, what, now somebody's got to bend? >> here's what makes it even more deliciously complicated, and that's this: the assumption was that the composition of washington would be different after the election, there'd either be a new president, or the republicans would take the house or the senate, didn't happen. we've got the same makeup, and now john boehner and barack obama are going to sit across from each other again and try to do something. he used the term there grace, and what is called for -- and peggy
it starts right now, because the fiscal cliff is out there, the tax rates, the automatic reductions to defense spending, all of those things are all there. and he's got to get to work on it right away. megyn: just so our viewers know, those will happen unless there's some sort of intervention, and they've tried to stop it from happening before, and unsuccessful, they were unsuccessful in their efforts to make a deal. so now they have to do it before the end of the year if they're going to do it...
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Nov 30, 2012
11/12
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KGO
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cliff. but on capitol hill, talks there have pretty much hit an impasse at this point. neither republicans nor democrats seem willing to budge on the issue of tax rates for the wealthy. unless the two sides can reach some kind of deal, spending cuts and also tax hikes will collectively take effect starting january 1st. the clock is ticking. >> it is. >>> the united nations has overwhelmingly approved recognition of a palestinian state, a move staunchly opposed by the u.s. and israel. >> but in the west bank and gaza, palestinians, they celebrated on the streets. the historic vote upgrades palestine to nonmember nonvoting observer status only. meanwhile, u.s. ambassador, susan rice, she denounced the resolution. saying, quote, it's counterproductive to the goal of mideast peace. >> and the palestinian people will wake up tomorrow and find that little about their lives has changed, save that the prospects of a durable peace have only receded. >> rice added that the u.s. will continue to stand
cliff. but on capitol hill, talks there have pretty much hit an impasse at this point. neither republicans nor democrats seem willing to budge on the issue of tax rates for the wealthy. unless the two sides can reach some kind of deal, spending cuts and also tax hikes will collectively take effect starting january 1st. the clock is ticking. >> it is. >>> the united nations has overwhelmingly approved recognition of a palestinian state, a move staunchly opposed by the u.s. and...
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Aug 22, 2012
08/12
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cliff could be avoided. if house republicans join democrats in extending the current tax rate for middle class saying they are willing to hold the middle class hostage until we give tax cut to millionaires and billionaires. tax cuts we can't afford. republican mitt romney wants all the bush tax rate extented and charge, "today's cbo report is another indictment of president obama economic policies that resulted in overspending, increasing debt and growing financial burden on the next generation. just one day after vice president biden declared the middle class is coming back. >> they have been ravaged, they have been ravaged. but they're starting to come back. we helped them keep their homes a their healthcare. >> reporter: talk of a comeback may be dampened by the federal reserve. newly released minutes from the recent minute show many fed officials think action will be needed fairly soon until incoming information points to a substantial and sustainable strengthening in the pace of the economic recovery. t
cliff could be avoided. if house republicans join democrats in extending the current tax rate for middle class saying they are willing to hold the middle class hostage until we give tax cut to millionaires and billionaires. tax cuts we can't afford. republican mitt romney wants all the bush tax rate extented and charge, "today's cbo report is another indictment of president obama economic policies that resulted in overspending, increasing debt and growing financial burden on the next...
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Nov 30, 2012
11/12
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insult and finger pointing in the fiscal cliff debate. tax rates spike and spending slashed. congress is breaking for the holidays in two weeks. it could send the economy spinning in directions. $1.6 trillion in tax hikes. he will travel to pennsylvania to sell it to you. republicans aren't buying it. listen to house speaker, john boehner. >> despite the claims the president supports a balanced approach, the democrats have yet to get serious about real spending cuts. >> democrats are firing right back at boehner. harry reid getting a little personal. >> i don't understand his brain, so you should ask him. okay? >> ouch. athena jones live from washington. same old same old. where do we go from here? >> that's the big question. the nice talk after the election is pretty much gone away. you mentioned one of the big sticking points, that's taxes. republicans and democrats can't agree on how to raise the tax revenue? end the bush tax cuts for the wealthy, close the loopholes, raise the capital gains taxes or all of the above. right now, they can't agree on how much money should be
insult and finger pointing in the fiscal cliff debate. tax rates spike and spending slashed. congress is breaking for the holidays in two weeks. it could send the economy spinning in directions. $1.6 trillion in tax hikes. he will travel to pennsylvania to sell it to you. republicans aren't buying it. listen to house speaker, john boehner. >> despite the claims the president supports a balanced approach, the democrats have yet to get serious about real spending cuts. >> democrats...
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we are distracted by the fiscal cliff. let there be a economic growth. interest rates would go up. interest rates will stay reasonably low. we should be glad that we have this economy. either we really go down the cliff or let some growth kick in and indeeddwhat happens, interest rates will go up. ultimately, inflation is the road we will be heading on. dagen: is there anything you can look at today that shows interest rates will go up? >> what we know now is that the federal reserve no longer focuses on inflation, but on employment. that is why the unemployment rate will be ever more important today. next year, the federal reserve will be even more starvation -- we are going to push growth at any cost: the cost being inflation. at some point, the market will take point. we are going to have a lot of turmoil. we do not have a european crisis. we are certainly a candidate. higher rates will be in it. dagen: higher by how much quick select you have 1.6% on the ten year period >> in recent years, everyone has felt warm and fuzzy. let volatility go back to normal time. you do not need
we are distracted by the fiscal cliff. let there be a economic growth. interest rates would go up. interest rates will stay reasonably low. we should be glad that we have this economy. either we really go down the cliff or let some growth kick in and indeeddwhat happens, interest rates will go up. ultimately, inflation is the road we will be heading on. dagen: is there anything you can look at today that shows interest rates will go up? >> what we know now is that the federal reserve no...
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Nov 9, 2012
11/12
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. >> the congressional budget office are analyzing person provisions of the fiscal cliff. it finds letting these bush tax cuts expire is the least harmful way to improve the economy. but the gop would rather see lower rates and eliminating loopholes. yesterday senator chuck smumer called it a rumpled stillskin fantasy. earlier this week the president gave a very heart-felt speech to his staff and even teared up a bit. >> you guys -- [ inaudible ]. and i'm really proud of that. i'm really proud of all of you. >> more bill is up after the break. stay with us. how are you ever going to solve the problem if you don't look at all of the pieces? >>tv and radio talk show host stephanie miller rounds out current's morning news block. >>you're welcome current tv audience for the visual candy. >>sharp tongue, quick whit and above all, politically direct. >>you just think there is no low they won't go to. oh, no. if al gore's watching today... at cepacol we've heard people are going to extremes to relieve their sore throats. oh, okay, you don't need to do that. but i don't want any m
. >> the congressional budget office are analyzing person provisions of the fiscal cliff. it finds letting these bush tax cuts expire is the least harmful way to improve the economy. but the gop would rather see lower rates and eliminating loopholes. yesterday senator chuck smumer called it a rumpled stillskin fantasy. earlier this week the president gave a very heart-felt speech to his staff and even teared up a bit. >> you guys -- [ inaudible ]. and i'm really proud of that. i'm...
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Nov 14, 2012
11/12
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CNBC
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the fiscal cliff may be solved and interest rates, as you say, may indeed go up. >> true. munis are a whole different story. they'll suffer but not as much because of the tax-free nature. if you buy them by themselves, they'll mature. bond funds have no maturity and therein lies the problem. >> thank you, mr. clark. to summarize, go short duration if you're in a fund and try to hedge it with an etf. carl, back to you. >> good advice. european close coming up after a break. don't go away. future. since ameriprise financial was founded back in 1894, they've been committed to putting clients first. helping generations through tough times. good times. never taking a bailout. there when you need them. helping millions of americans over the centuries. the strength of a global financial leader. the heart of a one-to-one relationship. together for your future. ♪ >>> the european markets are closing now. >> not only a sea of red, simon, but a lot of data out of europe that wasn't encouraging either. >> that's true. for many in financial markets, also the turmoil you see on the st
the fiscal cliff may be solved and interest rates, as you say, may indeed go up. >> true. munis are a whole different story. they'll suffer but not as much because of the tax-free nature. if you buy them by themselves, they'll mature. bond funds have no maturity and therein lies the problem. >> thank you, mr. clark. to summarize, go short duration if you're in a fund and try to hedge it with an etf. carl, back to you. >> good advice. european close coming up after a break....
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Dec 17, 2012
12/12
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FBC
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if he refuses to raise tax rates and the president demands higher tax rates, then we go over the fiscal cliff, we go into recession and the republicans get the blame. i think that's your argument, scott, right? what do you make of that, john? >> well, i mean, i think that certainly a risk, but i'm not sure that obama gets out scot-free on this if we go over the cliff. i mean there's a lot to lose for everybody. and the point is is that you either believe in the economic approach that we talked about as a party in 2012, or you don't. and if you go ahead with obama's plan, essentially you're conceding that, you know what? we don't really believe this makes sense. we think the government should be spending more money. stuart: do you think the president will bend in return or do you think he actually wants to go over the cliff? >> i think he eventually will bend, but it is really hard to tell when obama's dictating and boehner is caving. stuart: let's leave it at that because i think you have expressed it precisely. i think you have it right. john, thank you very much for joining us. we app
if he refuses to raise tax rates and the president demands higher tax rates, then we go over the fiscal cliff, we go into recession and the republicans get the blame. i think that's your argument, scott, right? what do you make of that, john? >> well, i mean, i think that certainly a risk, but i'm not sure that obama gets out scot-free on this if we go over the cliff. i mean there's a lot to lose for everybody. and the point is is that you either believe in the economic approach that we...
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Nov 30, 2012
11/12
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CNNW
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called the fiscal split or the fiscal cliff because president obama's plan to avoid the fiscal cliff is not exactly flying with republicans. 32 days now count with me 32 tax rates soar, spending cuts automatically kick in and keep in mind there is a date that we're watching also before this, congress break for the holidays in all of 14 days. >> so to review the president's plan calls for $1.6 trillion in tax hikes, $50 billion in new stimulus spending, and $400 billion in unspecified cuts. the president for himself he's heading to a manufacturing plant in pennsylvania today to try to sell that idea. house speaker john boehner's reaction was essentially, get serious. so we want to talk about the numbers behind this. we're going to bring in ken rogoff, professor of economics and public policy at harvard university. you heard the specifics of the plan, $1.6 trillion in new taxes, $400 billion in unspecified cuts, $50 billion in new stimulus. how does this sound to you? >> well, it certainly sounds like a plan. and i do think we have to see some mix of higher revenues starting now and fr
called the fiscal split or the fiscal cliff because president obama's plan to avoid the fiscal cliff is not exactly flying with republicans. 32 days now count with me 32 tax rates soar, spending cuts automatically kick in and keep in mind there is a date that we're watching also before this, congress break for the holidays in all of 14 days. >> so to review the president's plan calls for $1.6 trillion in tax hikes, $50 billion in new stimulus spending, and $400 billion in unspecified...
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Nov 29, 2012
11/12
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. >> based on the procespect of going over the fiscal cliff which you just called serious business or extending the lower tax rates and not the upper ones, which one would you choose? >> i'm going to do everything i can to avoid putting the american economy, the american people through the fiasco of going over the fiscal cliff. >> which is worse, though, for the economy? >> -- the balance that you talked about, could you include the debt limit increase in the overall package? >> as i told the president a couple weeks ago, there are a lot of things i've wanted in my life, but almost all of them had a price tag attached to them. and if we're going to talk about the debt limit in this, then there's going to be shall price tag associated with it. >> last question. >> are you standing by your dollar for dollar for cuts? >> i tip to believe any increase in the debt limit has to be accompanied by spending reductions that meet or exceed it. >> thank you. >>> all right. listening to speaker john boehner there after his meeting with tim geithner. coming out -- didn't hear it right off the top,
. >> based on the procespect of going over the fiscal cliff which you just called serious business or extending the lower tax rates and not the upper ones, which one would you choose? >> i'm going to do everything i can to avoid putting the american economy, the american people through the fiasco of going over the fiscal cliff. >> which is worse, though, for the economy? >> -- the balance that you talked about, could you include the debt limit increase in the overall...
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Nov 9, 2012
11/12
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CSPAN
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john boehner says any deal to avert the so-called fiscal cliff should include lower tax rates, eliminating the special interest the polls, and revising the tax code. boehner said also in this store that he had a brief conversation with the president earlier this week, as the chief executive and congressional leaders negotiate a way to avoid the fiscal cliff, and as we heard from the president, he has invited the congressional leaders to the white house next week to get to work on this. will in albuquerque, go ahead. caller: i like what the president spoke about, but i got to get this off my head. boehner, what are you doing? c'mon, man. work with the president. you always want to say you are working with the present, but you are just spinning the wheels as a republican, and i honestly i did not understand that. we own a small business in albuquerque, and his thing about this to and $50,000 a year type thing, spending and losing jobs it for business is ridiculous, and i personally believe that if boehner does not get off his butt and start working with the democrats, he is making himself lo
john boehner says any deal to avert the so-called fiscal cliff should include lower tax rates, eliminating the special interest the polls, and revising the tax code. boehner said also in this store that he had a brief conversation with the president earlier this week, as the chief executive and congressional leaders negotiate a way to avoid the fiscal cliff, and as we heard from the president, he has invited the congressional leaders to the white house next week to get to work on this. will in...
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Aug 27, 2012
08/12
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FOXNEWS
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what tax rates are gonna be and so forth everyone talking about if fiscal cliff we are on that does not help in terms of job creation, economic growth i want to give people some certainty that's got to be part of his agenda in terms of what he would do differently than what obama has done. >> yes we could use more of that. the real sense i'm talking about is make people feel he knows what we are going through that is the one thing that has fallen short in all polls. no, he doesn't really understand where i am at this is the opportunity to say yes i know anguish. >> then they have to know how they are going to get from where they are into a better future. >> he has to do both, personal and -- polls are even with his personal approval being favorable being down this convention gives him a chance to break out if he can connect in some way when we come back the republican party then and now. how far has it come from the george bush, tom delay years from the reform governors to the tea party movement the new there is a tornado watch in effect for are portions of southern and central florida.
what tax rates are gonna be and so forth everyone talking about if fiscal cliff we are on that does not help in terms of job creation, economic growth i want to give people some certainty that's got to be part of his agenda in terms of what he would do differently than what obama has done. >> yes we could use more of that. the real sense i'm talking about is make people feel he knows what we are going through that is the one thing that has fallen short in all polls. no, he doesn't really...